MasTec, Inc.
MTZHIGH VELOCITYFILING INTENSITYMasTec, Inc. reads as High Velocity (composite 78/100); pressure / disclosure signals dominate the posture this cycle · primary market E&C, ranked #12 on disclosed spend.
Lens
Disclosed M&A capital (2023–2025)
$220M
vs $1.9B in 2020–2022
Disclosed transactions
12
3/3 active fiscal years in window
Buyer archetype
Consistent Strategic Buyer
Meaningful spend appears across repeat years.
Composite score
78
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $3.1B disclosed buyer spend
- Filed within 26d
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 26d
- 273 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 17 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 1 divestiture 8-K
- Latest event 27y ago; heavily discounted
- 17 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 17 activism filings
- Latest activism 1.7y ago
Distress Watch
Issuers showing financial-distress filing patterns
- 17 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
- 1 non-reliance 8-K
- 6 auditor changes
- 10 NT late filings
- Latest event 2.2y ago; discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 273 8-Ks
- Filed within 26d
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $35.5B
- 10-Q 26d ago
- 4 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $1,245M · Peak count: 14
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | 5 | $71M | $14M | N/A |
| 2024 | 3 | $80M | $27M | N/A |
| 2023 | 4 | $69M | $17M | N/A |
| 2022 | 5 | $636M | $127M | N/A |
| 2021 | 14 | $1.2B | $89M | N/A |
| 2020 | 5 | $25M | $5M | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion20%
- Bolt On20%
- Horizontal Consolidation20%
- Tuck In20%
- Vertical Integration20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- geographic_expansion
- bolt_on
- horizontal_consolidation
- tuck_in
- vertical_integration
- technology_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“Big Country is expected to significantly expand MasTec's ability to take advantage of the rapidly expanding opportunities anticipated for energy infrastructure work in North America in the coming years.”
“Big Country is expected to enhance our ability to take advantage of the rapidly expanding opportunities anticipated for pipeline energy infrastructure work in North America.”
“We have continued our diversification and expansion strategy through several recent acquisitions which have expanded our service offerings to customers.”
“The acquisition of Precision will enhance MasTec’s end-to-end design and construction capabilities within the energy industry.”
“Many of the industries we serve are subject to consolidation and rapid technological and regulatory change”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
E&C
- Market spend (2023–2025)
- $50.9B
- Market spend (2020–2022)
- $33.3B
- Recent vs prior
- +53%
- Issuer rank in market
- #12 of 90
- Share of market capital
- 1.8%
Valuation positioning
MTZ trades at a +10.6-turn premium to the E&C peer median of 20.6×.
- EV / Revenue
- 2.3×
- Net debt / EBITDA
- -0.2×
- Peer median EV / EBITDA
- 20.6×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
| 46.8× | 3.8× | 2.0× | $30B | $5.4B | |
MasTec, Inc.MTZ | 31.2× | 2.3× | -0.2× | $15.3B | $220M |
| 25.1× | 4.9× | -0.3× | $21.6B | $1.2B | |
| 20.6× | 1.1× | 0.2× | $9.8B | $6B | |
| 19.2× | 1.3× | 3.0× | $13.2B | $32M | |
| 8.1× | 5.5× | -0.4× | $1.2B | $598M |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in E&C. Bars scaled to the highest EV/EBITDA in the set.
Buyer landscape.
Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.
Likely buyers
No public buyers surface as a strong target-side fit on current signal.
Likely sellers / divestiture partners
No reciprocal divestiture / strategic-alternatives matches identified.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)412026-02-26
- 10-Q (quarterly)1012026-04-30
- 8-K (event)2732026-04-30
- Proxy / DEF 14A522026-04-09
- Activism (13D / DFAN / PREC)172024-09-10
Signals on file
- critical
Non-reliance disclosure
2015-07-311 Item 4.02 filing on file; financial-statement non-reliance.
- elevated
Auditor change
2024-03-086 Item 4.01 filings on file; certifying accountant change.
- watch
Late-filing notice
2024-03-0110 NT 10-K/10-Q filings on file.
- watch
Divestiture / strategic-alternatives 8-K
1999-01-141 8-K filing matching divestiture / strategic-alternatives language.
- elevated
Activism on file
2024-09-1017 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Spin/Carve candidate
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.